https://www.taxtmi.com/caselaws?id=298249 The Tribunal ruled that only the profit element of on-money receipts should be taxed at 12%, in alignment with the method of accounting followed by the assessee. The appeals of the assessee were partly allowed, with the Tribunal directing the Assessing Officer to apply the 12% profit element for assessing the income from on-money and inflated expenses. en-us Wed, 14 Jul 2021 00:00:00 +0530 Fri, 22 Oct 2021 08:29:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=298249 The Tribunal ruled that only the profit element of on-money receipts should be taxed at 12%, in alignment with the method of accounting followed by the assessee. The appeals of the assessee were partly allowed, with the Tribunal directing the Assessing Officer to apply the 12% profit element for assessing the income from on-money and inflated expenses. Case-Laws Income Tax Wed, 14 Jul 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=298249